The exclusive rights of ownership of property are generally referred to as
A) level property rights.
B) private property rights.
C) public property rights.
D) common property rights.
Answer: B
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A Treasury bill with an original maturity of six months currently sells for $972.58. The bill was issued 30 days ago. An investor who purchases this bill today would have a yield on a discount basis of __________ percent
A) 6.58 B) 5.50 C) 5.42 D) 6.49
A change in which of the following causes a shift in the IS curve?
A) autonomous investment B) autonomous net exports C) taxes D) all of the above E) none of the above
In his 1967 address to the American Economic Association, Milton Friedman explained that increases in the money supply will temporarily reduce unemployment because:
a. wages do not respond to monetary policy. b. unions support policies that increase inflation. c. inflation benefits lenders. d. prices rise faster than wages.
The law of increasing opportunity cost says that:
A) opportunity costs of production always tend to increase. B) increases in wages cause increases in the opportunity costs of production. C) as output increases for one good on its production possibilities curve, the opportunity cost of additional units of the other good will be greater and greater. D) along a production possibilities curve, as output increases in the production of one good, the opportunity costs of additional units of the other good will be less and less.